Lionsgate Posts Quarterly Revenue of $975.1 Million

Lionsgate has reported third-quarter revenue of $975.1 million, an operating loss of $43.5 million and net loss attributable to Lionsgate shareholders of $106.6 million.

“We’re pleased to report another strong financial quarter in which the performance of our diversified businesses gives us confidence that we can continue to deliver the growth our investors expect,” said Lionsgate CEO Jon Feltheimer. “The investments we made in the quarter to acquire eOne and expand our partnership with 3 Arts, along with our plan to launch Lionsgate Studios as an independent, publicly-traded pure play content company, will continue to enhance the strength of our businesses moving forward.”

The studio business, comprised of the motion picture and television production segments, reported revenue of $691.6 million, down 23 percent. Segment profit of $108.5 million decreased by 27 percent.

Motion picture segment revenue was up by 53 percent to $443.2 million, and segment profit increased by 31 percent to $100.4 million. Motion picture revenue growth was driven by the strong worldwide box office performance of The Hunger Games: The Ballad of Songbirds & Snakes and Saw X, and segment profit was driven by the lift the current Hunger Games release provided to the library performance of previous Hunger Games titles, the ancillary market performance of John Wick: Chapter Four and Saw X, and the continued strength of multiplatform releases.

Television production segment revenue decreased to $248.4 million and segment profit fell to $8.1 million, compared to segment revenue of $605.4 million and segment profit of $71.5 million in the prior-year quarter. The revenue and segment profit decline were driven by the strikes’ impact on episodic deliveries and the talent management business as well as the comparison with the fiscal third quarter 2023’s licensing of Schitt’s Creek.

Media networks North American OTT subscribers grew by 700,000 sequentially in the quarter and overall North American net subscribers grew by 340,000. Media networks segment revenue was up 10 percent to $417.2 million. Segment revenue was driven by growth in domestic streaming revenue and LIONSGATE+ revenue, partially offset by lower domestic linear revenue. Segment profit was up 73 percent to $85.5 million, driven by growth in domestic segment profit as well as accelerated revenue recognition associated with LIONSGATE+’s exit of Latin America. Domestic revenue grew on a sequential basis for the second quarter in a row.